United States opened the 2014 FIFA World Cup on a high note with
the Ghana defeat and is gearing up to confront Portugal in its
upcoming match. However,
) is reducing its presence in the country with the industrial
In particular, Prologis offloaded a 59-assets industrial
portfolio, spanning 7.5 million square foot, in the U.S. to a
Dallas-based private investment company - TPG. As per
he Dallas Morning News
, the purchaser paid $375 million for the transaction. The
properties are situated across 9 U.S. markets - Seattle, El Paso,
Cincinnati, Dallas, Chicago, Denver, Portland, Los Angeles and
Prologis specializes in industrial distribution warehouse space
in some of the busiest distribution markets across the globe. As a
matter of fact, amid a larger customer base, rise in e-Commerce
application and supply chain consolidation, there is an increasing
demand for high-quality logistics facilities. This leading
industrial real estate investment trust (REIT) stands to benefit as
it has the capacity to offer modern distribution facilities in
strategic infill locations globally.
Consequently, the company is significantly repositioning its
portfolio through divestitures, acquisitions, build-to-suit
development projects and lease deals across the globe. Last week,
Prologis completed the initial public offering and listing of its
Mexican REIT - FIBRA Prologis (BMV: FIBRAPL 14) to boost its
presence in the region (read:
Prologis Sets Up Mexican REIT, Shares Gain
). We expect such moves to fuel the company's capital recycling
activity, enhance portfolio quality and ride on the growth
Prologis currently carries a Zacks Rank #3 (Hold). Investors
interested in the REIT industry may consider stocks like
The GEO Group, Inc.
Terreno Realty Corp.
Chatham Lodging Trust
). All these stocks sport a Zacks Rank #1 (Strong Buy).
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PROLOGIS INC (PLD): Free Stock Analysis Report
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GEO GRP INC/THE (GEO): Free Stock Analysis
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